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cnbc.com
UK gilt yields jump as borrowing rises and PM Starmer faces leadership challenge
Andy Burnham won the Makerfield by-election, defeating Reform UK by more than 9,000 votes with nearly 55% of the vote.
theguardian.com
UK borrowing surges over forecasts in May as government spending rises – business live
Rolling coverage of the latest economic and financial newsShares in UK water companies are dropping in early trading, as Andy Burnham’s by-election win raises the prospect of nationalisation.United Utilities, which provides water and wastewater services in the North West of England, are down 1.3%.“When Andy says he wants the public to have control over ‘the essentials of life’, we should believe him. He is completely serious.” Continue reading...
cnbc.com
What this biotech's volatile stock price tells you about the weight loss market right now
While the market's enthusiasm for one of Zealand's experimental drugs has cooled, investors are shifting focus to amylin-based medicines as a growth driver
bbc.com
UK borrowing in May surges by more than expected
Borrowing is the difference between spending and income from taxes.
theguardian.com
On the trail of the dotcom queen: how Julie Meyer left a pattern of unpaid bills, missing funds and broken dreams in her wake
Investigation: The entrepreneur was once the toast of London’s tech scene, a ‘global leader of tomorrow’ who starred on Dragons’ Den and promised untold riches for the startups she championed. But people she worked with in the last decade, from Malta to Switzerland, describe a very different realityJulie Meyer is sitting in a starkly lit attic, surrounded by piles of £50 notes. A California blond in a crisp, white shirt, her long, stockinged legs crossed at the knee, she listens intently to the young man standing before her. As he talks, she sizes him up. Eventually, she tells him: “I’m going to make you an offer.” It could be a scene from a heist movie, but Meyer is in a BBC studio, shooting a 2009 episode of the TV show Dragons’ Den. A celebrated entrepreneur with a venture capital fund, she is ready to invest in whichever contestants catch her eye. For the viewers, she has some advice: “What is success? A lot of it is self-belief. Continuing on when most rational people would stop.”This is an online spin-off from the original Dragons’ Den series, so the stakes are a little lower. But for Lex Deak, a 23-year-old with a big idea for a social media website, what happens in this room today could be make or break. He desperately wants to work with Meyer. Continue reading...
theguardian.com
Normal shipping will not resume in strait of Hormuz until 80 mines cleared
Tanker owner trade body says centre of strait will remain closed for ‘some time’, with vessels risking running aground by taking Omani routeThe centre of the strait of Hormuz is blocked with about 80 mines that will need clearing for normal shipping to resume, the independent tanker owner trade body has said.Several vessels began to exit the Gulf through the key maritime chokepoint on Thursday, after the signing of a memorandum of understanding between the US and Iran. Continue reading...
bbc.com
'I'd be put off if he asked to split it': Who should pay on a first date?
Some insist on splitting the bill, others say the asker should pay, while many still see a man paying as romantic.
cnbc.com
U.S.-Iran accord hits early snag after Swiss talks fail to proceed as planned
Analysts reckon a lasting resolution to the Middle East conflict will take some time to materialize.
theguardian.com
MPs urge Fujitsu to make ‘immediate’ payment to Post Office Horizon victims
Liam Byrne, who chairs Commons business committee, says too many operators are still waiting for redressThe Japanese tech company at the centre of the Post Office IT scandal is facing calls from a parliamentary committee to make an “immediate” payment towards the compensation bill for victims.Fujitsu supplied the faulty Horizon software to the UK Post Office, which led to branch operators being wrongly prosecuted over discrepancies in their business accounts. Continue reading...
theguardian.com
Telegram questioned by Ofcom after arsonist who targeted Starmer-linked properties recruited on app
Exclusive: Telegram urged to clarify how it detects illegal incitement after attacks were coordinated using appTelegram is facing questions from Ofcom over how it detects and prevents illegal incitement after a Ukrainian man was found guilty of carrying out arson attacks on a car and property associated with Keir Starmer.A spokesperson for the regulator said it had contacted the messaging app “to seek further clarification” because the arsonist had been directed on Telegram by a handler linked to Russia. Continue reading...
theguardian.com
Homes for sale in former schools in England and Scotland – in pictures
From a one-room village school transformed into a five-bedroom rural pile to a flat in a grand Victorian building in London Continue reading...
cnbc.com
CNBC Daily Open: Swiss signing canceled as U.S.-Iran talks stall
Negotiators call off plans to meet in Switzerland to try to progress the U.S.-Iran deal as Trump and Vance defend the agreement.
theguardian.com
Labour’s Andy Burnham gives victory speech after winning Makerfield byelection – video
In his victory speech, Labour's Andy Burnham said the result 'could be a turning point' and that people had 'voted for change, they have voted for more power for the north and everywhere forgotten by Westminster'. He said this was Labour’s 'final chance to change'. 'There will be no second chance but it is a chance now from this result tonight to build a new politics based on unity and hope, turning away from the path that takes us to a divided politics of the kind we see in the United States'Andy Burnham wins huge majority in Makerfield byelection, paving way for Starmer leadership challenge Continue reading...
bbc.com
Farnham sets out 'ambitious' vision for island
Only chief minister candidate wants to tackle costs, boost investment and increase housing supply.
cnbc.com
Indian IT stocks slump up to 7% as Accenture cuts revenue outlook, fueling fresh concerns over sector growth
Shares of major Indian IT companies fall up to 7% after global sector leader Accenture cuts its revenue guidance.
cnbc.com
Yen slides past 161 against the dollar, nearing 40-year low and reviving intervention bets
On Thursday the yen saw a sharp depreciation a high of 161.80, its weakest since July 2024.
theguardian.com
Burnham brings in top economists before possible leadership run
Labour mayor giving advisory roles to ex-Bank of England economist and others seen as attempt to reassure marketsMakerfield byelection – latest updatesThree economic heavyweights have been brought in to advise Andy Burnham as he attempts to reassure the markets before his return to parliament and possible challenge to Keir Starmer.Burnham is understood to be getting advice from Andy Haldane, a former Bank of England chief economist, as well as Richard Hughes, a former chair of the Office for Budget Responsibility and Jim O’Neill, a crossbench peer and former Treasury minister who worked on George Osborne’s “Northern Powerhouse”. Continue reading...
cnbc.com
MSCI isn't done with Indonesia yet: new report signals continued concerns over market transparency
MSCI flagged growing concerns about transparency in Indonesia's stock market.
cnbc.com
Why Japan's $70 billion-plus intervention and a rate hike didn't prop up the yen more
Japan was willing to step in to defend the yen around the 160 level before, and it's at that point again.
theguardian.com
Think like a billionaire part one – podcast
Glamorous, rich and well-connected, Julie Meyer was a darling of the dotcom boom. But people who worked with the entrepreneur complain about unpaid wages, debts to suppliers and missing money. Journalist Olivia Lee and the Guardian’s investigations team unravel the complicated storyJournalist Olivia Lee was in Fabric nightclub in London when she heard a story that intrigued her: a tech founder told her a tale of woe about a luxury networking event he had been to. He told Lee there were supposed to be yacht trips and gala dinners. But nothing had gone as planned. “He claimed that there were these really chaotic scenes of taxi drivers supposedly working for the organiser going on strike because they hadn’t been paid. People chucked out of hotel rooms because the organiser appeared to have not paid the hotel bill.”The woman he said was behind the event was Julie Meyer. An entrepreneur who had been the queen of the 00s dotcom scene in London and was later awarded an MBE. Lee, along with Juliette Garside from the Guardian’s investigations team, began looking into Meyer. Lee tells Helen Pidd what she learned about the tech entrepreneur and the accusations made against her. Continue reading...
cnbc.com
U.S.-Iran deal in photos: ships in the Strait of Hormuz, daily life in Tehran
The first signs of a post-war recovery are emerging across the Middle East after the United States and Iran signed a memorandum aimed at ending the conflict.
cnbc.com
Japan core inflation holds steady in May, matching expectations despite energy price concerns
Headline inflation edged up to 1.5% from 1.4%, while the so called "core-core" inflation rate, eased to 1.8% from 1.9%.
theguardian.com
California ‘billionaire tax’ makes ballot despite opposition from tech moguls
Wealth tax criticized by billionaires and Gavin Newsom would levy a one-time 5% tax on residents worth over $1bnA popular proposal in California to impose a wealth tax on billionaires has gained enough signatures to qualify for the ballot in November, state officials announced on Wednesday.The news is set to intensify an already heated debate around the tax, which has pitted tech moguls and the state’s governor, Gavin Newsom, against the labor union backing the measure. Continue reading...
bbc.com
The artificial ice pyramids saving India's mountain villages
Himalayan villages are creating artificial glaciers to guarantee water for their crops in the spring.
bbc.com
Five ways the Iran peace deal could affect you and your money
With fuel and gas prices having fallen in recent days, we look at how the end of hostitlities might affect you - in five charts.
bbc.com
Brexit cost 6% of UK economy, Bank of England company data suggests
Analysis showed how much the UK could have grown if it had not exited the EU.
cnbc.com
Trump administration temporarily cuts student loan interest rates for borrowers on autopay
The Trump administration announced it will offer federal student loan borrowers who sign up for autopay a larger interest rate discount.
cnbc.com
NBA to begin naming winning bids for Europe teams in the coming months, deputy commissioner says
The NBA plans to begin naming winning bidders for 12 permanent European teams in the next 60 to 90 days, Deputy Commissioner Mark Tatum told CNBC.
cnbc.com
SpaceX stock sinks for a second day as company slips below Amazon in market cap
Investor bullishness showed signs of waning on Wednesday, as shares sank 5%.
cnbc.com
Vance says U.S. isn’t giving Iran ‘a cent’ as he defends Trump peace deal
"The only way the Iranians get any of these resources ... is if they comply fully" with the terms of the deal, Vice President JD Vance said.
cnbc.com
The average SpaceX buyer post-IPO is almost under water after two-day slide
Shares of SpaceX fell as much as 7% Thursday to $178, leaving the stock trading roughly in line with its volume-weighted average price of just under $180.
cnbc.com
Amazon investigating engineers who criticized AI data center expansion
Five Amazon employees testified at Seattle City Council meetings where officials sought feedback on a year-long data center new construction pause.
cnbc.com
Three Saudi oil tankers carrying 6 million barrels cross Strait of Hormuz
The Saudi tankers switched their transponders on Thursday after hiding their location for more than two months.
cnbc.com
Bears step up bets against high-yield sector, shaking up bond traders
The iShares iBoxx High Yield Corporate Bond ETF (HYG) saw elevated put volume on Thursday.
cnbc.com
Here are the five big takeaways from Kevin Warsh's first meeting as Fed chairman
The Federal Reserve and Chairman Kevin Warsh on Wednesday followed the script on interest rates closely.
theguardian.com
Naomi Campbell called unfit to run a charity in her appeal against ban
Supermodel ‘completely abdicated’ her trustee responsibilities at Fashion for Relief, Charity Commission tells hearingNaomi Campbell showed herself to be unfit to run a charity after the supermodel “completely abdicated” her responsibilities as a trustee of her now defunct Fashion for Relief project, according to the charity watchdog.The Charity Commission told a tribunal that Campbell, who is trying to overturn a five-year ban on running a charity, was “highly culpable” for mismanagement and misuse of funds at Fashion for Relief, the former charity she founded in 2015. Continue reading...
cnbc.com
Wall Street recovers from Fed slump, and the next step for Amazon's AI chip ambitions
Every weekday, the Investing Club releases the Homestretch; an actionable afternoon update just in time for the last hour of trading.
theguardian.com
Another FTSE 100 firm falls to private equity. Where are the new listings? | Nils Pratley
You can’t complain Intertek’s £10bn takeover happened – the problem is the lack of arrivals in the other direction It would be a stretch to describe the £10bn-ish takeover of Intertek as a landmark event for the London stock market or the FTSE 100 index.This is not an Arm Holdings moment – the purchase of that Cambridge chip designer by Japan’s SoftBank in 2016 provoked long (and continuing) agonising over the lack of whizzy tech stocks on the London market. Continue reading...
theguardian.com
The Guardian view on OnlyFans: revelations of abusive middlemen merit MPs’ attention | Editorial
Reports of agents taking 50% of women’s earnings undermine the company’s rhetoric of empowerment Since its launch a decade ago, and throughout its journey to becoming one of the UK’s most successful internet startups, OnlyFans – which was valued at more than £3bn in April – has presented itself as a vehicle for content creators’ empowerment. Revelations of the role played by middlemen in transactions on the website, which is dominated by pornographic content, undermine such claims and require a response from parliament.A Guardian investigation and a BBC documentary uncovered details of male-run agencies that seek out young women, persuade them to film sexual material, and take 50% of their earnings (all OnlyFans creators also pay a 20% commission to the website). The reporters heard from women who faced pressure to make their content more explicit, and about online networks where managers sell contracts with performers to each other. The BBC interviewed a woman in Wales who was physically attacked in her home.Do you have an opinion on the issues raised in this article? If you would like to submit a response of up to 300 words by email to be considered for publication in our letters section, please click here. Continue reading...
theguardian.com
The billionaire hidden behind the curtain inside Trump’s Pentagon
Media-shy financier Stephen Feinberg has quietly amassed extraordinary influence over US military spendingThe only available video over the last 15 months of the official who really wields power in Donald Trump’s Pentagon is a cartoon animation. Released in May on X by the US government, it shows a silver haired figure in a grey suit lighting up a cigar and sitting at a massive wooden desk with a nameplate: DEPSECWAR FEINBERG.Stephen Feinberg, the 66-year-old billionaire founder of the private equity giant Cerberus Capital Management, has served as the deputy secretary of defense since March 2025. His boss, the defense secretary, Pete Hegseth, makes frequent appearances working out with troops or insulting reporters at press conferences, and posts often on social media. But Feinberg does not show his face. He has been obsessively media shy for decades, and is so reclusive that since his confirmation hearing he has not testified to a single committee on Capitol Hill, has held no press conferences and given no interviews. His press spokesperson left the government months into his tenure and has not been replaced. Continue reading...
theguardian.com
‘Cynical to get power’: Michel Barnier on Boris Johnson, Brexit and the EU’s future
Former negotiator believes in an unstable world, it is ?perfectly possible? the UK can rejoin the EU with old opt-outsUK could keep special pre-Brexit terms if it rejoined EU, Michel Barnier saysA couple of years ago, Michel Barnier spent a weekend with Boris Johnson?s father, Stanley. It was not some ghoulish Brexit spin-off of The Traitors, but the result of the former EU negotiator?s wife, Isabelle, being a close friend of Johnson?s French cousin, Anne du Boucheron, the owner of Château de la Baronnière, a 19th-century estate in Mauges-sur-Loire, in western France.?We spent a weekend together in a French castle. Very friendly. Long promenades in the forest,? Barnier recalls of Johnson senior, with whom he discussed the former prime minister?s motivation to back Brexit. ?It was interesting. Boris was much more European at the beginning. Even if he was critical. I don?t see it as a motivation but it is, perhaps, a method or attitude: to be pragmatic in some way. Cynical. Cynical to get power.? Continue reading...
theguardian.com
UK could keep special pre-Brexit terms if it rejoined EU, Michel Barnier says
Exclusive: Former chief Brexit negotiator says staying out of euro and Schengen area would be ‘perfectly possible’‘Cynical to get power’: Michel Barnier on Boris Johnson, Brexit and the EU’s futureMichel Barnier has said Britain could regain its special terms if it rejoined the EU and claimed it was becoming clearer every day to the British people that they would be stronger in Europe.In an interview before the 10th anniversary of the Brexit referendum next week, the EU’s former chief Brexit negotiator said he could not see any obstacle to the UK keeping the pound and remaining outside the passport-free Schengen travel area should the country rejoin. Continue reading...
theguardian.com
Bank of England governor warns UK public to expect higher costs this year
Andrew Bailey says ‘inflationary pressure in pipeline’ despite US and Iran signing initial peace deal as interest rates kept on holdThe governor of the Bank of England has warned consumers to expect higher costs this year as a result of the conflict in the Middle East, despite falling oil prices as the US and Iran signing an initial peace deal.Speaking after the Bank kept interest rates on hold at 3.75%, Andrew Bailey said there was “still some inflationary pressure in the pipeline” after the conflict pushed up energy prices. Continue reading...
theguardian.com
City & Guilds scraps mass redundancies and offshoring UK jobs to Greece
PeopleCert had been planning to cut about 400 jobs in £22m savings drive at training body it bought last yearThe vocational training body City & Guilds has guaranteed that plans for mass compulsory redundancies and the offshoring of hundreds of UK jobs to Greece will no longer go ahead.The proposal to remove about 400 UK roles was first reported by the Guardian in December as part of a £22m cost-cutting drive after the acquisition of the charity’s training and awards business by the Greek-owned PeopleCert in October. Continue reading...
cnbc.com
Intel gains 10% after Trump says company will partner with Apple on U.S. chip design
The boost continues Intel's recent rally as the chipmaker bounces back from years of headwinds.
theguardian.com
Heathrow third runway likely to affect health of millions nearby, official report warns
Expansion could also harm access to housing, education, healthcare, open spaces and transport, analysis saysConstruction of a third runway at Heathrow is likely to have significant adverse effects on the health and wellbeing of up to 3 million people living nearby, an official report has said, as the government launched the next stage of its rapid airport expansion plan.An analysis for the Department for Transport (DfT) has found that expanding London’s hub airport could have “major adverse” impacts on the health of the most local population. Continue reading...
cnbc.com
Hegseth warns NATO allies that some nations will 'fail' U.S. defense review
The U.S. Defense secretary also said it was "shameful" that European allies refused to give U.S. forces access to bases to strike Iran.
theguardian.com
Fed governor Lisa Cook faced $1.3m in legal and security fees after Trump’s bid to fire her
Cook is at the center of a supreme court case focused on whether Trump’s firing of her from the Fed board was legalThe Federal Reserve governor Lisa Cook faced more than $1.3m in legal and security fees after coming under attack from the Trump administration, according to ethics disclosures that were filed on Wednesday.The White House targeted Cook last summer as Donald Trump ramped up his unprecedented campaign to push the Fed to cut interest rates. Continue reading...
bbc.com
'Do not travel' advice for Dubai dropped
Thousands of Brits were left stranded in the Middle East when the US-Iran war broke out in early 2026.
bbc.com
CrossCountry ranked Britain's worst train operator
Transport Focus asks it to reduce delays and provide better information during disruption.
cnbc.com
OPEC chief dismisses IEA supply glut forecast as 'critical' Strait of Hormuz reopens
The IEA said on Wednesday that a lasting resolution to the conflict could drive a surge in supply volumes and trigger a major oil overhang next year.
bbc.com
Heathrow's 'critical' expansion blueprint released
A consultation is launched on the Heathrow expansion, outlining conditions for the project to go ahead.
cnbc.com
Bonkers SpaceX stats that show how staggering the money movement has been
SpaceX's first few days of trading have been filled with superlatives, from trading volume to the size of the company's first acquisition.
cnbc.com
Godfather of AI blasts Musk's xAI as 'failure,' says labs are risking a 'big bubble explosion'
Yann LeCun's comments renew a long-running spat with Musk and cast doubt over valuations of some of the world's biggest AI companies.
theguardian.com
‘Mega-consumers’ of food and energy cost environment $5.7tn a year, study finds
Top 10% generate climate and biodiversity damage bill that exceeds economies of most countries, say researchersThe environmental damage bill racked up by the highest-consuming 10% of the world’s population has reached up to $5.7tn a year – larger than the economy of every country except the US and China, a study has found.Mega-consumers in this group are concentrated in the global north, accounting for more than half the population of the US and 40-45% of people in the EU. Continue reading...
theguardian.com
Cuban economy needs ‘urgent changes’ as US blockade deepens crisis, says president
Miguel Díaz-Canel cites China and Vietnam as possible models for opening up the country’s economyCuba’s economy needs urgent changes to overcome a crisis intensified by a US oil blockade, the president, Miguel Díaz-Canel, has said in a speech to Communist party leaders.“The situation calls for urgent and necessary changes,” Díaz-Canel told the party’s politburo in his frankest admission yet of the need to overhaul the country’s communist model. Continue reading...
cnbc.com
GOP Rep. Steil pushes bill curbing members of Congress from prediction market betting
The new proposal on limits on members of Congress making such bets come as scrutiny increases on prediction markets like Kalshi and Polymarket.
bbc.com
Finance-help scheme 'unlocks £1.4m' for residents
The council's Boost project has now teamed up with Citizens Advice to help more people access income.
bbc.com
Apple to raise prices as AI boom pushes up chip costs
The firm's outgoing boss Tim Cook did not say when prices would rise or which products would be affected.
theguardian.com
Moment fuel storage lid flies off Moscow refinery during drone attack – video
Footage shows the moment an explosion at an oil refinery in Moscow caused a fuel storage lid to fly off. The explosion was caused by a Ukrainian drone attack where one of Moscow’s most important energy facilities was damaged for the second time this weekMoscow oil refinery struck in Ukraine’s biggest air raid on city since start of war Continue reading...
bbc.com
Interest rates held as Bank warns of impact of high energy prices
The Bank last cut interest rates in December but upheaval in the Middle East has stalled any further reductions.
theguardian.com
Fewer than half of commuters in Great Britain think train fare value for money
Findings of national survey comes as rail regulator reports record 1.83bn passenger journeys last yearFewer than half of rail commuters in Great Britain think their train fare is value for money, a national passenger survey has found.Travellers on the CrossCountry long-distance rail service were the least satisfied overall, according to the research by the passenger watchdog Transport Focus. Continue reading...
bbc.com
Number of job vacancies hits five year-low
Latest figures suggest companies are becoming more cautious about taking on new staff.
theguardian.com
Americans are spending $800 just to cool their homes. We are at a breaking point | Mark Wolfe
While the stock market booms for the rich, cost of living is soaring for everyone elseSince 2020, the stock market has more than doubled. Americans who own substantial financial assets are reveling in economic success. For everyone else, the economy feels very different. This summer, the average family will spend nearly $800 just to keep their home cool, almost 40% more than in 2020 and up 10.5% since last summer.Americans now carry more than $1.2tn in credit card debt. Nearly 60% say they are living paycheck to paycheck. One in six households is behind on its utility bills. Every year, utilities disconnect electric service more than 13m times. Nearly 40% of lower-income households struggle to pay their energy bills.Mark Wolfe is an energy economist and serves as the executive director of the National Energy Assistance Directors Association representing the state directors of the Low Income Home Energy Assistance Program and the co-director of the Center on Energy Poverty and Climate. He also serves as an adjunct professor at the Trachtenberg School of Public Policy at George Washington University Continue reading...
cnbc.com
Strait of Hormuz reopening may take weeks to ease shipping backlog and oil pressure
The Strait of Hormuz is set to reopen after Iran and the U.S. sign a peace deal, but experts warn backlogs and security checks could delay normal shipping.
theguardian.com
Gig workers are endlessly exploited. AI could make more of us share their fate
As companies integrate AI and hire fewer employees, a shift toward a ‘gig economy’ will commenceIn 2024, the buy-now-pay-later company Klarna announced that it would cut hundreds of customer service roles and begin using an artificial intelligence chatbot instead. The move was expected to save the company millions. But a year later, after customers complained about the degraded quality of customer service, Klarna began to quietly recruit human customer service agents back.At first glance, the reversal appeared to be a victory for human workers in the age of AI. The reality was more complex. Instead of bringing on full-time customer service agents, who Klarna contracts through an outside agency, it instead brought on workers in what Klarna CEO Sebastian Siemiatkowski has described as “an Uber type of set-up”. Now, an AI chatbot continues to handle most of customers’ basic queries, while a growing number of gig workers handle the more advanced ones. “Just like somebody can go and drive an Uber for a while, they can actually jump on and work for Klarna’s customer service,” Siemiatkowski said on a podcast in February. Continue reading...
bbc.com
Why has Texas set its sights on London?
Texas, which once had an embassy in London, strengthens its ties with the capital by opening a new trade office.
cnbc.com
Why Wall Street banks and foreign borrowers are rushing to tap China’s cheap money
Foreign governments, Wall Street banks and multinational companies are flocking to China's panda bond market.
bbc.com
'We had to get out of the way': The backlash over delivery robots
As the delivery vehicles increasing take to US streets, bans and protest groups are springing up.
cnbc.com
CEOs of Anthropic and Google DeepMind call for U.S.-led AI coalition in meeting at G7
Tech leaders and heads of state, including President Donald Trump, joined a meeting about AI standards at the G7 Summit.
bbc.com
Warsh to review how Fed works after holding US interest rates at first meeting
The Federal Reserve held rates between 3.5% and 3.75% after Kevin Warsh's first meeting in charge of the central bank.
theguardian.com
Titan sub: design flaws and company groupthink central to catastrophe, report finds
Canadian officials find structural defects in material used for hull and say firm failed to fully test ‘novel’ designCanadian safety officials have issued a damning report on the catastrophic final voyage of the Titan submersible, finding that the US company behind the expedition was overcome by “groupthink” and “confirmation bias” and failed to understand the profound risks confronting their largely untested craft.The 6.7-metre (22ft) carbon fibre submersible dipped below the surface of the Atlantic Ocean in June 2023 en route to the wreckage of the Titanic ocean liner. But nearly two hours after it departed with five passengers, communications went dark. The disappearance prompted a frantic international search, with Canada and the US marshalling all available resources. Continue reading...
theguardian.com
The Guardian view on Britain and the EU: Ed Davey is right – a changed world changes the argument | Editorial
The Liberal Democrat leader’s call for more ambitious reintegration with Europe brings a necessary focus on economic and strategic realityMembership of the European single market was at stake when the UK voted on Brexit, but it was not the decisive question in the campaign. The leave campaign dishonestly promised a cost-free severance of ties with Britain’s largest trading partner. As immigration came to dominate the debate, the requirement to allow free movement of people as a condition of seamless integration with European markets undermined the remainers’ most compelling argument.Reluctance to advocate a liberal migration regime imposed a taboo on calls to reconsider the Brexit settlement, even as warnings about the cost of rupture were vindicated. Now, after a decade of forsaken growth, the mood is finally changing. Continue reading...
cnbc.com
Amazon AI exec predicts first 'commercially useful' quantum computers in 5-7 years
Quantum computing is becoming an increasingly competitive field, with tech giants including Microsoft, Google and IBM developing the technology.
theguardian.com
I once protested against the G7. I feel no need now, because it’s collapsing all by itself | Zoe Williams
You cannot take a rules-based order seriously when only some of the participants are playing by the rulesWhen 200,000 protesters gathered to meet the G8 summit in Genoa, 25 years ago, their point (our point, in fact; I went on a coach, it took two and a half days) was that eight rich nations shouldn’t dictate the rules to the rest of the world. If you accept that power concedes nothing without a demand, this demand probably sounds a bit broad, boiling down to “abnegate your power”. But it was part of a wider anti-globalisation movement, in which many of the precise mechanisms by which the developed world exploited the developing had been nailed down.Many of the protest tactics and networks had been honed at the battle for Seattle in 1999, outside the World Trade Organization summit, along with an agenda that was capacious and versatile. Unfortunately, the authorities had also learned a thing or two, and both the elaborate security of the G8’s red zone and the police brutality outside it were met with some astonishment from the world’s (liberal) media, but not from anyone with a memory exceeding two years. Continue reading...
bbc.com
Driving test wait time target will not be met until autumn next year
The Transport Secretary had been aiming to reduce the backlog to seven weeks by this autumn.
bbc.com
Inflation unexpectedly steady as food price rises slow
Higher petrol prices were offset by slower price rises for meat, dairy and vegetables, according to the ONS.
theguardian.com
Surprisingly benign UK inflation data signals a softer Iran war hit than feared
Impact of war on UK cost of living more muted than first forecast suggesting fuel price rises have failed to spill out more widely across UK plcUK inflation stays at 2.8% as slowing food prices offset transport costsAs soon as Iran choked off oil supplies through the strait of Hormuz at the start of March, there were dire warnings about rocketing UK inflation and the drastic action the Bank of England might take to rein it in.At one point, investors were expecting as many as three quarter-point rises in interest rates before the end of the year – a sharp turnaround from earlier forecasts of rate cuts. Continue reading...
bbc.com
Japan raids ice cream giants over price-fixing allegations
The investigation on alleged cartel pricing of ice cream comes as Japan faces record summer temperatures.
theguardian.com
Capital gains tax: more people have to pay, so here’s what you need to know
The rules have changed and more taxpayers are being pulled into the net, not only the wealthyLess generous rules have turned capital gains tax into a “cash machine” for the government, with income from the levy soaring by almost 80% to £24bn in the last tax year – equivalent to well over £800 a household.A series of changes to the way the charge works means more people are being pulled into the capital gains tax (CGT) net, and not only the wealthy. And, given the scale of the change, this week experts were reminding consumers of legitimate ways to reduce a CGT bill. Continue reading...
bbc.com
'It's a unique scenario' - Inside Lidl's first ever pub
The supermarket chain Lidl owns and operates The Middle Ale, a 'world first' for the brand.
theguardian.com
Is it bad that Elon Musk has a trillion dollars? Yes, and here’s why | Ingrid Robeyns
Just as the ‘poverty line’ determines what’s required for basic living, we need a ‘wealth line’ to show when extreme wealth becomes harmfulIt was bound to happen eventually: Elon Musk has become the planet’s first trillionaire. Until recently, economists who spoke about “trillions” were describing the GDP of the largest economies or the accumulated value of bequests on their way to the heirs of today’s billionaires. The term is not often used in daily conversation, let alone to describe the wealth of an individual.But now we have entered a new phase of the oligarchic era. Previously, when we described the wealth of the world’s richest billionaires, it was understood as a few hundred billions. Three years ago, the value of Musk’s total assets was estimated to be about $250bn. The pace at which it has increased is mind-boggling – and so is what it represents. Continue reading...
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Musk's SpaceX overtakes Amazon to become world's fifth most valuable firm
Elon Musk's rocket firm has overtaken the retail and media empire in value after a surge in its share price.
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Cadbury chocolate-owner Mondelez defends staying in Russia
Mondelez boss Dirk Van de Put says it was the "right decision" to remain after the war with Ukraine.
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Struggling Pizza Hut chain to be sold for $2.7bn
The decision comes after a prolonged period of difficulty for the chain, which has faced increasing competition from a range of rivals.
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The tide is turning on Thames Water: special administration looks best | Nils Pratley
It is still not totally clear what the government wants but the political mood seems to be shifting towards a decisionThames Water nationalisation moves closer as government objects to rescue dealAt last, Emma Reynolds, the environment secretary, has opined on the future of Thames Water. So what’s it to be? A takeover by the company’s creditors? Special administration, which would allow anyone to pitch up with an offer while the state temporarily funds the company? Or even a quick flush to full nationalisation?Well, two years after Thames’s shareholders walked away, and 18 months after the creditors opened talks with regulator Ofwat on the terms on a potential recapitalisation, one still can’t say definitively what the government wants. But we do have a better idea: the political mood seems to be shifting firmly towards administration. Continue reading...
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Retail giants join UK government drive to boost ‘plug-in’ balcony solar panels
Asda, Amazon and B&Q among retailers in talks to sell devices that feed into household sockets and can cut electricity bills by 30%Spanish homes save €10 a month via renewables expansionBosses of some of Britain’s biggest retailers are discussing plans with the government to start selling plug-in solar panels as part of a drive to encourage more UK homes to generate their own electricity.Executives from brands including Currys, B&Q and Amazon met Martin McCluskey, the minister for energy consumers, on Tuesday to discuss guidelines for selling “balcony solar panels” to the British public. Continue reading...
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Thames Water moves step closer to nationalisation after government objects to rescue deal
The environment secretary says the deal does not do enough for consumers or the environment.
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How the Iran war affects your money and bills
The conflict in the Middle East has increased pressure on the cost of petrol, household energy bills and even food.
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Why is Thames Water in so much trouble?
Thames Water's lenders have submitted a new rescue plan to save the firm, but how did it end up in this state?
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Do online saving methods really work?
Do online saving methods really work?
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Japan raises interest rate to highest for 31 years
The Bank of Japan has been raising rates from near-zero since 2024.
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Five-star service from mobility equipment firm saved our holiday
Wuva staff’s kindness and empathy means we are able to plan more trips awayMy husband has motor neurone disease (MND). For us to continue going away, we decided to buy a refurbished mobile hoist, which helps to get out of a bed, from the online mobility equipment company, Wuva.It arrived quickly, but had been damaged in transit and didn’t work. I contacted Wuva out of hours via WhatsApp, and within five minutes I received an extensive apology and advised an engineer would call me shortly. Continue reading...
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What is Helium-3 and could we get it from the moon?
Helium-3 is expensive and demand is forecast to soar, so some are planning to mine it on the moon.
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Trump says Iran deal has been signed – video
Donald Trump has said an agreement with Iran had been signed and that the text of the deal will be released some time after a formal signing on Friday, adding that the strait of Hormuz will be fully opened. Speaking on Monday alongside the French president, Emmanuel Macron, before this week's G7 meeting in France, Trump also said Iran 'won't have a nuclear weapon'US and Iran reach framework peace deal to end war Continue reading...
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How could the US-Iran deal affect oil prices and the cost of food?
Experts warn the impact of the war will continue to affect the global economy for months to come.
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What's happening to UK petrol and diesel prices now the US and Iran have a deal?
When the conflict began on 28 February, fuel costs jumped as the war disrupted the production and transportation of energy across the Middle East.
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Why I sold my business to my staff
As more US company owners reach retirement age many are selling up to their employees.
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Business Daily
An ambitious project aims to build a business hub to rival Singapore or Hong Kong
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‘People start connecting the dots’: why an investment fund is rewilding a North Yorkshire estate
Rebalance Earth is investing in Broughton Sanctuary to generate financial, environmental and social returnsFrom a high point on the hill, the North Yorkshire landscape unrolls below. The moorland above gives way to grassland, trees and then pasture, divided by the region’s traditional dry stone walls.The view may be idyllic, but it belies the condition of parts of this land, belonging to the sprawling 1,100 hectare (2,500-acre) Broughton Sanctuary estate, near Skipton. Continue reading...
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London startup to trial drug to prevent cancer therapy side-effect ‘cytokine storm’
Poolbeg Pharma to test the treatment in NHS hospitals and says it is also developing a GLP-1 weight loss pillA London-based startup is about to trial a drug at six NHS hospitals that could stop people on cancer immunotherapy getting a life-threatening side-effect.Poolbeg Pharma said its oral drug POLB 001 could make treatment for blood cancer safer by preventing cytokine release syndrome (CRS), when the immune system goes into overdrive and attacks the body, leading to organ damage. Continue reading...
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How Brexit has made Britain poorer – in charts
Forecasters were wrong about an immediate recession but right that we would be worse off outside the EUAs the 10th anniversary of the Brexit vote approaches, the verdict on Britain’s economic performance is clear: voting to leave has resulted in severe costs for households and businesses.The immediate recession predicted in the Treasury forecasts ordered by George Osborne – dubbed “project fear” by the Leave campaign – did not happen. The impact from the Covid pandemic, wars in Ukraine and Iran, and Donald Trump’s trade battles also cloud the picture. Continue reading...
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UK sets out AI infrastructure push at London Tech Week – how does it stack up?
Government announces plans to invest billions, but questions linger over how its proposals on chips, social media and more will workOwnership of the commanding heights of the AI economy is a political talking point around the world, as countries seek to assert some control of a technology dominated by the US and China.London Tech Week, the showcase event for the UK tech industry, focused heavily on that theme this week. A government keen to show it has a growth story, and an assertive narrative on AI, made a number of announcements related to companies, skills and infrastructure. Some represented new commitments and ideas; others appeared to be putting a polish on already announced measures. Continue reading...
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Have you been mis-sold car finance?
Martin Lewis has advice for those who have or who are planning to put in a car finance mis-selling claim.
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'I was employee number one at SpaceX'
The BBC's Michelle Fleury spoke to Tom Mueller, who was one of the company's founders alongside Elon Musk in 2002.
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Watch: Three things to know about SpaceX's stock market debut
The BBC's Samira Hussain explains everything you need to know about SpaceX's historic IPO.
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India's 'blue gold' starts a new drinks industry
Agave plants grow wild in India and new distillers are using them to create a spirits industry.
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The furious dispute over what caused Air India flight 171 to crash
The final conclusions of the investigation have yet to be published, although more could become apparent in the coming days.
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New candy stores are popping up across NYC. Why?
While US consumer confidence is at an historic low the Big Apple's sweet shops are expanding.
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Could humanoid robots be heading for the battlefield?
Armed forces are experimenting with humanoid robots, but battlefield deployment is some way off.
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Spain's visitor numbers hit new highs as tourists avoid Middle East
The European country had 9.1 million international visitors in April, the most ever for that month.
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How the High Street became a window on our political instability
High Streets have declined in recent years. What does this tell us about the UK?
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The ancient trick making food waste useful and tasty
Instead of throwing away byproducts of food processing, fermentation is making them valuable.
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'By the grace of God': Miners dig on as lab-grown diamonds change market
The rising popularity of lab-grown diamonds heaps pressure on those hunting for the natural gems.
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How 'confused' AI rollout hurts firms and baffles staff
Some firms are putting pressure on staff to use AI, but have not thought through their AI rollout.
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Caribbean hot sauce producers warn of shortages and higher prices
Manufacturers in Jamaica say the key chilli peppers they need are in limited supply.
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Humanoid robots 'the future' of car making, says BMW
BMW is introducing humanoid robots to a car plant in Europe, building on similar projects in the US.
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The £5 coffee that tells a story of global economic turmoil
Coffees at some city centre outlets now cost £5. It's a story of tariffs, the climate, Gen Z cultural tastes, and savvy coffee farmers playing the market, writes Faisal Islam
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Is 'out of control' US tipping culture spreading overseas?
With US waiting staff getting cross at receiving less than 20%, tips are also on the rise elsewhere.
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The rise of the fruit that tastes like custard
Custard apple plants are prized for their hardiness but exporting their delicate fruit is difficult.
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Morocco wants tourists to visit Western Sahara. Some say it's tightening its control
The Moroccan government wants more Western holidaymakers to visit the territory it claims to own.
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The threat to summer holidays looming from jet fuel shortages
What impact might shortages have on our summer holidays - and what could be done about it?
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Scammers are becoming ever more sophisticated - this is what the fightback looks like
Scams have exploded over the last few years. Can countries and companies come together to turn the tables on the scammers?
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